CAMARILLO, California, June 20, 2018 /PRNewswire/ --
TSX ticker symbol; BKX
OTCQX ticker symbol; BNKPF
BNK Petroleum Inc. (the "Company" or "BNK") (TSX: BKX) is pleased to announce the results of the Annual General Meeting of shareholders of the Company held in Vancouver, British Columbia on June 19, 2018. All of the resolutions put forward at the meeting were approved.
The Company's shareholders voted to fix the number of directors of the Company at seven and elected the following seven nominees to the board of directors (the "Board"). Each of the nominees will serve for a one-year term and hold office until the next annual meeting of shareholders, unless he or she sooner ceases to hold office. The following table sets forth the vote of the shareholders at the meeting with respect to the election of directors:
Director Nominee Votes For % For Votes Withheld % Withheld Ford Nicholson 42,096,242 99.04 406,854 0.96 Victor Redekop 42,357,500 99.66 145,596 0.34 Eric Brown 42,364,500 99.67 138,596 0.33 General Wesley Clark 42,086,825 99.02 416,271 0.98 Wolf Regener 42,364,500 99.67 138,596 0.33 Leslie O'Connor 42,426,000 99.82 77,096 0.18 David Neuhauser 42,089,242 99.03 413,854 0.97
The Company wishes to thank Gregory Cameron, who did not stand for re-election, for his contributions to the Company and wishes Mr. Cameron all the best in his future endeavours.
The shareholders re-appointed KPMG LLP, Chartered Accountants as the auditor of the Company.
The shareholders also authorized the Board to alter its Notice of Articles and Articles to create a new class of "Preferred Shares", including three series of such Preferred Shares, with 66.51% of the votes in favour. Prior to voting to authorize the creation of the Preferred Shares, the shareholders approved limitations on the Preferred Shares so that the Preferred Shares (i) will not be convertible or exchangeable into more than 10% of the total number of common shares following the conversion or exchange and (ii) the Preferred Shares will not carry more than 10% of the votes attached to all of the shares of the Company that carry the right to vote at a general meeting of shareholders. Any issuance of Preferred Shares remains subject to approval of the Toronto Stock Exchange.
Additional details will be provided in a Report of Voting Results to be filed on SEDAR.
About BNK Petroleum Inc.
BNK Petroleum Inc. is an international oil and gas exploration and production company focused on finding and exploiting large, predominately unconventional oil and gas resource plays. Through various affiliates and subsidiaries, the Company owns and operates shale oil and gas properties and concessions in the United States. Additionally the Company is utilizing its technical and operational expertise to identify and acquire additional unconventional projects. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol BKX and on the OTCQX under the stock symbol BNKPF.
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